Financial Performance - The company reported total revenue of HKD 1,007,186,000 for the eighteen months ending June 30, 2022, compared to HKD 567,553,000 for the previous year, representing an increase of approximately 77.4%[5] - Gross profit for the same period was HKD 86,479,000, up from HKD 48,930,000, indicating a growth of about 76.7%[5] - The company incurred a net loss of HKD 5,282,000 for the eighteen months, compared to a profit of HKD 995,000 in the previous year, reflecting a significant decline in profitability[7] - The basic loss per share was HKD 1.40, compared to a loss of HKD 0.49 in the previous year, indicating a worsening financial position[5] - The company reported a total comprehensive loss of HKD 7,034,000 for the period, compared to a comprehensive income of HKD 4,202,000 in the previous year[7] - The company experienced a foreign exchange loss of HKD 1,752,000 from overseas operations, contrasting with a gain of HKD 3,207,000 in the previous year[7] - The company reported a loss attributable to shareholders of approximately HKD 23,531,000 for the period[17] - The group reported a loss of HKD 23,531,000 for the period, compared to a loss of HKD 8,149,000 in the previous year, indicating a year-over-year increase in losses of approximately 188%[30] Expenses and Liabilities - Administrative expenses increased to HKD 39,274,000 from HKD 25,519,000, showing a rise of approximately 54.0%[5] - Sales expenses also rose to HKD 22,679,000 from HKD 12,179,000, marking an increase of about 86.1%[5] - Current liabilities increased from HKD 149,989,000 to HKD 180,354,000, an increase of 20.3%[10] - Non-current liabilities, including convertible bonds, increased from HKD 51,301,000 to HKD 65,650,000, a rise of 27.9%[10] - The total equity position improved from HKD (12,969,000) to HKD 3,243,000, indicating a positive shift in the company's financial health[10] - The company recorded a current tax expense of HKD 3,795,000 for the period, compared to HKD 616,000 in the previous year, indicating a substantial increase of about 516%[28] Assets and Cash Flow - Current assets increased significantly from HKD 90,247,000 to HKD 151,931,000, representing a growth of 68.3% year-over-year[9] - Trade receivables rose from HKD 13,769,000 to HKD 38,386,000, marking an increase of 179.5%[9] - Inventory increased from HKD 52,291,000 to HKD 69,748,000, reflecting a growth of 33.5%[9] - The net current liabilities position improved from HKD (59,742,000) to HKD (28,423,000) indicating a reduction in liabilities[9] - The company's cash and cash equivalents were approximately HKD 7.52 million, an increase from HKD 5.45 million as of December 31, 2020[45] - Total liabilities amounted to approximately HKD 139.57 million, including borrowings of approximately HKD 71.81 million[47] Strategic Initiatives and Future Outlook - The company has not provided specific guidance for future performance or strategic initiatives in the announcement[2] - The company is actively seeking acquisition opportunities to gain new business in the Chinese market and strengthen its revenue and profit base[18] - The company plans to implement measures to improve its working capital and cash flow, including close monitoring of general administrative expenses and operating costs[19] - The company is in discussions with potential investors to raise sufficient funds for its operations[19] - The company has acknowledged the potential need to adjust asset values and liabilities if it cannot continue operations under the going concern basis[18] Audit and Compliance - The financial results were unaudited and subject to further review, indicating potential adjustments in the final audited figures[3] - The company is currently undergoing an audit process for its annual performance, expected to be completed by mid-October 2022[65] - The audited annual results for 2022 will be published by October 31, 2022, and the annual report will be sent to shareholders by mid-November 2022[65] - The financial data for the eighteen-month consolidated annual performance ending June 30, 2022, has not been audited and lacks auditor consent[68] Employee and Operational Information - As of June 30, 2022, the group had a total of 125 employees, primarily working in China[55] - The company is implementing measures to improve its financial situation, including monitoring general administrative expenses and operating costs closely[54] - There were no significant acquisitions or disposals of subsidiaries during the eighteen months ended June 30, 2022[57]

Financial Performance - The company reported revenue of approximately HKD 495,377,000 for the twelve months ending December 31, 2021, a decrease of 12.7% compared to HKD 567,553,000 for the same period in 2020[7]. - Gross profit for the same period was approximately HKD 37,577,000, with a gross margin of 7.6%, down from HKD 48,930,000 and 8.6% in the previous year, respectively[7]. - The company recorded a loss attributable to owners of approximately HKD 17,027,000, compared to a loss of HKD 8,149,000 in the prior year, primarily due to decreased revenue and increased interest expenses on convertible bonds[8]. - Revenue for the year ended December 31, 2021, was HKD 495,377,000, a decrease of 12.7% from HKD 567,553,000 in 2020[37]. - Gross profit for 2021 was HKD 37,577,000, down 23.2% from HKD 48,930,000 in the previous year[37]. - The company reported a loss of HKD 12,647,000 for the year, compared to a profit of HKD 995,000 in 2020, marking a significant decline[39]. - Basic and diluted loss per share for 2021 was HKD 1.02, compared to HKD 0.49 in 2020[37]. - Total comprehensive loss for the year was HKD 10,809,000, compared to a comprehensive income of HKD 4,202,000 in 2020[39]. - The company recorded a loss attributable to owners of approximately HKD 17,027,000 for the year ended December 31, 2021, highlighting ongoing financial challenges[51]. - The total comprehensive loss for the year ended December 31, 2021, was HKD 12,647 compared to a profit of HKD 995 in 2020[61][63]. Assets and Liabilities - The company's current liabilities net worth was approximately HKD 62,513,000 as of December 31, 2021, compared to HKD 59,742,000 a year earlier[9]. - Non-current assets decreased to HKD 92,423,000 in 2021 from HKD 98,074,000 in 2020[41]. - Current assets increased to HKD 93,917,000 in 2021 from HKD 90,247,000 in 2020, driven by an increase in trade receivables[41]. - Current liabilities and net debt as of December 31, 2021, were approximately HKD 62,513,000 and HKD 23,778,000, respectively, indicating significant financial obligations[51]. - Total liabilities as of December 31, 2021, were HKD 210,118, an increase from HKD 201,290 in 2020[65][68]. - The company’s equity attributable to owners decreased to HKD (53,578,000) in 2021 from HKD (37,488,000) in 2020[42]. - Trade receivables increased to HKD 23,761,000 as of December 31, 2021, compared to HKD 16,796,000 in 2020, reflecting a growth of 41.4%[94]. - Total borrowings increased from HKD 73,762,000 in 2020 to HKD 85,016,000 in 2021, with shareholder loans rising from HKD 6,732,000 to HKD 16,420,000[100]. Cash Flow - The company reported a net cash outflow from operating activities of HKD (9,400,000) for the year ended December 31, 2021, compared to HKD (413,000) in 2020, indicating a significant decline in operational cash flow[46]. - The company incurred a net cash outflow from investing activities of HKD (284,000) in 2021, a decrease from HKD (12,523,000) in the previous year, reflecting reduced investment expenditures[46]. - Financing activities generated a net cash inflow of HKD 5,596,000 in 2021, down from HKD 11,534,000 in 2020, primarily due to changes in borrowing and repayment activities[46]. - The company’s cash and cash equivalents decreased to HKD 4,644,000 at year-end 2021 from HKD 5,446,000 at the beginning of the year, reflecting liquidity pressures[46]. Strategic Plans - The company plans to continue strategic acquisitions to capture new opportunities in the Chinese market and strengthen its revenue and profit base[13]. - The company is actively seeking growth projects for acquisition or investment, indicating a proactive approach to market expansion[54]. - The company plans to continue focusing on its core business segments and may explore opportunities for market expansion in the future[74]. - The company plans to continue exploring market expansion opportunities and new product development strategies in the upcoming fiscal year[99]. Corporate Governance - The board has resolved not to declare a second interim dividend for the twelve months ending December 31, 2021[14]. - The group did not declare any interim dividend for the twelve months ended December 31, 2021, consistent with the previous year[85]. - The company has complied with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by Lin Qingqu[31]. Shareholder Information - As of December 31, 2021, the major shareholders include Lin Qingqu, who holds 28,004,000 shares (1.67%) and has control over 811,502,432 shares (48.28%) through related companies[20]. - The company has a total of 811,502,432 shares held by China Success Limited, which is wholly owned by Wei Jun Investment Fund[21]. - The company has a total of 141,270,400 shares held by Fair Concourse Limited, owned by Mai Xiuqun[29]. - The total number of issued ordinary shares decreased from 16,590,685,376 in 2020 to 1,680,764,537 in 2021 due to a share consolidation[108]. - The total number of convertible preferred shares decreased from 816,000,000 to 81,600,000 after the share consolidation, with issued preferred shares reduced from 216,960,000 to 21,696,000[114]. Risk Management - The company faces various financial risks, including market risk, credit risk, and liquidity risk, which are detailed in the annual financial statements[123]. - The company has not made significant changes to its risk management policies since December 31, 2020, maintaining its approach to financial risk management[124].

Financial Performance - For the year ended December 31, 2019, the group recorded revenue of approximately HKD 579,231,000, an increase of about 20.5% compared to HKD 480,852,000 in 2018[9] - The gross profit for the year was approximately HKD 49,027,000, with a gross profit margin of about 8.5%, representing an increase of approximately 215.9% and 5.3% respectively from 2018[9] - The operating loss attributable to the owners of the company was approximately HKD 3,159,000, a significant reduction from HKD 53,617,000 in 2018[9] - The modified starch and other biochemical products segment achieved revenue of approximately HKD 558,343,000, up about 26.0% from HKD 442,961,000 in 2018, with segment profit increasing by 568.9% to HKD 26,925,000[10] - The general trading business recorded revenue of approximately HKD 20,888,000, down from HKD 37,891,000 in 2018, with segment profit decreasing to HKD 101,000 from HKD 184,000[11] - The group reported a net loss of approximately HKD 3,159,000 for the year ended December 31, 2019[198] Financial Position - As of December 31, 2019, the group's total borrowings were approximately HKD 99,267,000, compared to HKD 96,151,000 in 2018[13] - The group's current liabilities net value was approximately HKD 71,807,000, a decrease from HKD 84,060,000 in 2018[13] - As of December 31, 2019, the group's net current liabilities and net liabilities were approximately HKD 71,807,000 and HKD 36,512,000, respectively[198] - The capital deficit attributable to the company's owners was approximately HKD 50,316,000[198] - Trade receivables, net of provisions, amounted to approximately HKD 27,615,000 after deducting provisions of HKD 6,976,000 as of December 31, 2019[199] Dividend Policy - The board has decided not to recommend the payment of a final dividend for the year ended December 31, 2019[18] - The company reported no final dividend for the year ended December 31, 2019, consistent with the previous year[31] - The company has no distributable reserves available for shareholders as of December 31, 2019, the same as the previous year[35] Corporate Governance - The board of directors presented the audited consolidated financial statements for the year ended December 31, 2019[28] - The board's report includes discussions on potential risks and uncertainties faced by the group[29] - The company has established policies for financial risk management, which are detailed in the financial statements[29] - The board of directors consists of a balanced mix of executive and independent non-executive directors, ensuring effective oversight of the company's operations[90] - The company has adopted the corporate governance code as per the listing rules and has been compliant throughout the year[88] Risk Management - The board is responsible for risk management and internal control systems, which are continuously reviewed for effectiveness[124] - The company has established a risk management and internal control system, which is reviewed annually for effectiveness[131] - The company has adopted a risk management policy that includes identifying significant risks and assessing their impact[125] Environmental Responsibility - The company continues to implement its environmental policies and strategies to develop sustainable business practices, focusing on resource conservation and environmental protection[144] - During the reporting period, the company did not violate any environmental laws or regulations and did not receive any warnings or fines from government agencies regarding emissions or wastewater[147] - The company has a clear policy for controlling emissions, wastewater, and handling hazardous and non-hazardous waste, with regular inspections and monitoring by its environmental department and government[145] - The factory's harmful air emissions were effectively controlled, with no negative comments or violations reported during the reporting period[151] Employee Management - The company has a total of 180 employees, primarily based in China, and offers competitive salaries along with discretionary bonuses and stock options[77] - The workforce increased to 180 employees, up from 160 in the previous year, with 12 in headquarters and 168 in factories[170] - Training expenses for employees amounted to HKD 71,000, a significant increase from HKD 19,000 in the previous year[172] - The company has maintained compliance with all employment laws in China and Hong Kong, with no reported labor disputes during the reporting period[168] Shareholder Information - As of December 31, 2019, Mr. Lin Qingqu holds 8,442,624,320 shares, representing approximately 50.88% of the company's equity[49] - Wai Chun Investment Fund, controlled by Mr. Lin Qingqu, holds 8,115,024,320 shares, accounting for about 48.91% of the company's equity[53] - Onward Global Investments Limited, owned by Wan Yuzhen, holds 1,344,960,000 shares, which is approximately 8.10% of the company's equity[53] - Spring Garden Investments Limited, owned by Zhong Liyan, holds 1,286,400,000 shares, representing about 7.91% of the company's equity[53] - Fair Concourse Limited, owned by Mai Xiuqun, holds 1,412,704,000 shares, accounting for approximately 8.51% of the company's equity[55] Compliance and Audit - The auditor has issued an unqualified opinion regarding the company's related party transactions, confirming they were conducted in the normal course of business[69] - The total audit service fee paid to the external auditor was HKD 500,000 for the year ended December 31, 2019[119] - The company has not faced any legal actions related to labor safety or employment laws during the reporting period[175] Community Engagement - The company provided over 140 job positions for low-skilled urban and rural workers, supporting community volunteer services[186] - The company emphasizes stakeholder engagement through various communication channels, including annual performance evaluations and investor briefings[141]